Allspring Global Investments Holdings LLC Has $100.21 Million Position in Qiagen N.V. $QGEN

Key Points

• Allspring Global Investments cut its Qiagen stake by 21.6% in the first quarter, but still held 2.48 million shares worth about $100.2 million at the end of the period.
• Qiagen stock was down 0.8% to $41.19, and the company reported quarterly EPS of $0.54, matching estimates, on revenue of $492.3 million, slightly below expectations.
• The company raised its annual dividend to $0.35 per share from $0.26, while analysts currently rate the stock a Hold on average with a consensus price target of $43.34.

Allspring Global Investments Holdings LLC lessened its holdings in shares of Qiagen N.V. (NYSE:QGEN - Free Report) by 21.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,481,645 shares of the company's stock after selling 683,160 shares during the period. Allspring Global Investments Holdings LLC owned 1.20% of Qiagen worth $100,209,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in QGEN. Danske Bank A S acquired a new position in shares of Qiagen during the third quarter worth approximately $36,000. Manchester Capital Management LLC bought a new stake in shares of Qiagen during the fourth quarter worth $42,000. Global Retirement Partners LLC increased its position in Qiagen by 279.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,155 shares of the company's stock worth $52,000 after purchasing an additional 851 shares during the period. Allworth Financial LP raised its holdings in Qiagen by 23.2% during the 3rd quarter. Allworth Financial LP now owns 1,358 shares of the company's stock worth $61,000 after purchasing an additional 256 shares during the last quarter. Finally, Advisory Services Network LLC bought a new stake in Qiagen during the 3rd quarter worth about $64,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Qiagen Stock Down 0.8%

QGEN stock opened at $41.19 on Friday. Qiagen N.V. has a 1-year low of $32.53 and a 1-year high of $57.81. The business's 50 day simple moving average is $37.34 and its 200 day simple moving average is $42.37. The company has a current ratio of 3.21, a quick ratio of 2.57 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $8.49 billion, a PE ratio of 21.51, a PEG ratio of 4.14 and a beta of 0.64.

Qiagen (NYSE:QGEN - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. The business had revenue of $492.32 million during the quarter, compared to the consensus estimate of $496.15 million. Qiagen had a return on equity of 14.40% and a net margin of 19.16%.During the same quarter last year, the firm posted $0.56 EPS. As a group, research analysts anticipate that Qiagen N.V. will post 2.43 EPS for the current year.

Qiagen Increases Dividend

The company also recently announced an annual dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, July 7th were paid a dividend of $0.35 per share. This represents a dividend yield of 90.0%. This is an increase from Qiagen's previous annual dividend of $0.26. The ex-dividend date was Tuesday, July 7th. Qiagen's dividend payout ratio is 18.32%.

Analyst Ratings Changes

Several equities research analysts have recently commented on QGEN shares. Berenberg Bank set a $45.50 price target on shares of Qiagen and gave the stock a "hold" rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $43.00 price objective on shares of Qiagen in a report on Thursday, April 30th. Wall Street Zen lowered shares of Qiagen from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. Barclays set a $38.00 target price on shares of Qiagen and gave the company an "equal weight" rating in a research report on Wednesday, April 29th. Finally, Citigroup reissued a "hold" rating on shares of Qiagen in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Qiagen currently has an average rating of "Hold" and a consensus price target of $43.34.

Qiagen Company Profile

Qiagen NV NYSE: QGEN is a global provider of sample and assay technologies designed to enable molecular testing in the fields of molecular diagnostics, applied testing, academic research and pharmaceutical development. The company's solutions span the full workflow of nucleic acid and protein analysis, offering customers standardized kits, instruments and software tools that streamline the preparation, detection and quantification of DNA, RNA and proteins.

The company's product portfolio includes nucleic acid extraction and purification systems, polymerase chain reaction (PCR) reagents and instrumentation, digital PCR platforms, next-generation sequencing (NGS) library‐preparation kits and proteomics solutions.

Want to see what other hedge funds are holding QGEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Qiagen N.V. (NYSE:QGEN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.